Hess Midstream LP reports Q4 EPS 55c, consensus 63c

Reports Q4 revenue $356.5M, consensus $357.7M.Hess Midstream LP reported fourth quarter 2023 net income of $152.8 million compared with net income of $149.8M for the fourth quarter of 2022. After deduction for noncontrolling interests, net income attributable to Hess Midstream was $37.5M or 55c basic earnings per Class A share compared with 49c basic earnings per Class A share in the fourth quarter of 2022. Hess Midstream generated Adjusted EBITDA of $264.1M. Net cash provided by operating activities was $247.6M and Adjusted Free Cash Flow was $146.6M. “2023 was a year of continued strong performance and execution for Hess Midstream, as we achieved significant volume growth and further expanded our gas gathering system capacity supporting basin gas capture goals,” said John Gatling, President and Chief Operating Officer of Hess Midstream. “We are focused on reliable operating performance and are positioned well to deliver visible and sustained throughput growth underpinned by our minimum volume commitments.”